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Just like the majority of other digital currencies present in the world of iGaming, Chainlink is also a fully decentralized financial network which effortlessly connects its smart contracts to APIs or all external ecosystems. Chainlink is also the fifteenth largest digital currency with its market cap which makes it’s a great option for online casino gamers. What is also special about Chainlink is that it is built on an oracle service which uses oracles that perform as data feeds.
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When it comes to using Chainlink as your online gaming banking option, there are several steps to set everything. Like many other altcoins around, Chainlink is also an Ethereum-backed token which powers the digital currency’s fully decentralized network which works on the principle of oracles. To use this payment option, players use their Ethereum wallets to redeem their Chainlink tokens and finally to connect their funds with external sources including payment systems.
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Chainlink powered by oracles which provide all sorts of external data activate smart contracts upon meeting all of the predefined conditions. In other words, using Chainlink means having your smart contracts safety connected to the real world. As such a safe and protected system, Chainlink is accepted by several gaming venues around.
FAQWhat Chainlink wallets are available?Since Chainlink is an Ethereum-backed altcoin, all transactions are made using Ethereum wallets.How to secure my Chainlink wallet?The best way to secure your Ethereum wallet packed with your Chainlink tokens is to make a backup of your wallet’s file. Moreover, make sure you never share info on your private seeds with anyone. You can also consider encrypting your wallet.